If two workers can produce 22 units of output, and the addition of a third worker increases output to 30 units, the marginal product of the third worker is:
a. 8 units.
b. 10 units.
c. 22 units.
d. 30 units.
a
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John Maynard Keynes created the aggregate expenditures model based primarily on what historical event?
A. economic expansion of the 1920s B. the Great Depression C. spectacular economic growth during World War II D. bank panic of 1907
Refer to the figure above. What is the equilibrium wage rate if the labor demand curve is LD2 and labor supply curve is LS2?
A) $20 B) $30 C) $15 D) $25
If the number employed is 190 million, the number unemployed is 10 million, and the working-age population is 250 million, then the labor force participation rate is
A) 4%. B) 5.2%. C) 60%. D) 76%. E) 80%.
The slope of the consumption schedule between two points on the schedule is
A. the ratio of the change in consumption to the change in disposable income between those two points. B. equivalent to the average propensity to consume. C. equivalent to one plus the marginal propensity to save. D. the ratio of the change in disposable income over the change in consumption between those two points.